Photo by Trifon Yurukov via Unsplash.com
Happy (almost) December! The holidays are nearly here and I am so, so excited for all of it– especially for what 2020 has to bring! But before I get too ahead of myself in typical Rachel fashion, I’m taking a moment to take stock of my net worth. The Financial Diet (a favorite website of mine, as you know), posted a quote on their Instagram that said: “Track your net worth. Don’t do it because that number is everything, but do it because you deserve to see real, tangible proof of the good choices you’re making every day, and the life those choices are building towards.”
Let me tell you guys, I FELT that. This entire month I’ve been going back and forth with how I’m feeling about my money. I set a goal of reaching 20 no-spend days and most likely won’t reach it. I’ve had to increase the amount of money I originally allocated towards going out and groceries, only made possible by some birthday money I received. These things can so easily feel like failures. But when I counted up my net worth and saw how much it grew regardless, I realized exactly how insignificant these things are in the grand scheme of things. There is no reason to feel like I’m messing up when I’m making exactly the progress that I’m aiming for. Taking stock of my net worth, rather than avoiding it, has helped me refocus and give myself some clarity.
Take a look for yourself.
Pension: $4,634 (+382)
Roth IRA: $1,563 (+574)
457: $2,382 (+69)
Emergency Fund: 2,778 (+200)
Other Savings: $2,984 (+321)
November 25th Net Worth Total: $14,341
With the numbers in, my net worth has jumped from $12,797 to $14,341, for a total change of +$1,544– and I am thrilled with that. Progress will slow down next month when I withdraw money from my gift account for Christmas, but I’m totally aware of that and know that I’ll still be in the black with the rest of my deposits, which is SUCH a good feeling.
But what really excites me is that a significant amount of this change is due to passive income from my investments. My 457 made $67 this month, and my Roth IRA made $24. That’s $91 towards my retirement that I didn’t have to take from my budget this month. I’m finally seeing tangible progress from the interest I’m earning, and it’s extremely motivating. Obviously, my investments won’t always be returning so well, but seeing my money earn more money makes me eager to deposit more.
As you guys know, this would not be possible without my budget. If you want to use the exact same system I do, click the button below to get my budget template– at no cost to you.
See you guys next week!